ARTICLE | Company News

Morning-after hangover for Salix

November 8, 2014 3:04 AM UTC

Salix Pharmaceuticals Ltd. (NASDAQ:SLXP) closed down $47.08 (34%) to $91.47 on Friday as investors digested Thursday's announcement that the specialty pharma's board had retained outside counsel to review the company's accounting for product inventories and that CFO Adam Derbyshire had resigned.

The stock, which closed Thursday at $138.55, traded down $53.05 in afterhours trading, and opened Friday at $90.20. ...